Venom Trading Review

Venom Trading Broker Review 2024

Venom Trading Review: The company behind Venom Trading is called Cobra. Their platform comes with bells and whistles. For example, you get real-time charts, the “not so common” one-click trading, and even free access to simulated trading. It provides level-2 trading with direct market access and routing capabilities. Using Venom will be a cinch if you’re familiar with the Interactive Brokers‘ TWS (Trader Work Station).

TWS is the software behind the Venom platform. Would you know that without this Venom trading review? That’s why our service reviews trading products.

As a side note, there are such things as “venomous cures” and even a superhero film about Venom. But I’ll let you look that up independently if you’re curious.

Today, we’re talking about a broker willing to go the extra mile with their support. Even going so far as to ensure you’re comfortable placing your first trade.

Venom Trading Website Review

Venom by Cobra Trading, Inc. boasts competitive rates, an advanced trading platform, and excellent customer service. The online brokerage, founded in 2004, caters to traders of US stocks, ETFs, options, futures, Forex, bonds, and more. Additionally, the firm offers pre- and post-market trading from 6:00 am to 8:00 pm EST. Venom Trading’s award-winning platform is free and comes in three versions.

While many brokerages offer more rudimentary platforms, this isn’t the case with Venom. The downloadable desktop platform works on the Mac, Linux, and PC. It’s highly customizable, from the interactive charts to the workspace layout.  

The platform provides live quotes and real-time account information. Also, it includes customized scanners, watch lists, and real-time streaming news.  

And it provides technical research and analytics. Use the platform to trade stocks, options, Forex, and futures from one account.

The web-based platform is as advanced as the desktop version. If you want to trade from a computer other than your desktop, log into Venom Web.  

The fully customizable platform enables you to trade stocks, futures, and options. Check out other Venom Trading reviews online to learn more.

SERVICES
Trading Rooms Stock Signals and Trading Alerts Stock Watch Lists
DESCRIPTION Bullish Bears offer trade rooms in our Discord. Our chat rooms include penny stocks, large caps, options, and futures We offer stock signals and trade alerts through our watch lists and Discord bots using Tradytics Swing trade and day trade watch lists with hand-picked symbols that have the best chance of breakouts. These are stocks to watch
INCLUDED

Mobile Platform

With the mobile platform, you can trade stocks, options, and futures while out and about. You can receive real-time streaming charts and quotes on your tablet or smartphone. This includes Apple, Android, and Blackberry devices.  

Since the interface is intuitive and user-friendly, you can easily monitor your account, create and manage orders, and set price alerts.

Venom Trading offers individual, joint, and retirement accounts. Likewise, the brokerage offers UGMA (Uniform Gifts to Minors Act) and UTMA (Uniform Transfers to Minors Act) trusts.  

Additionally, Venom Trading supports opening single funds, multiple funds, and financial advisor accounts. Also, the firm caters to institutions and offers partnership, corporate, LLC, and unincorporated business accounts.

The minimum to open an account is $5,000. However, for clients under 25, the account minimum is $3,000.

Meanwhile, the minimum for day traders is $25,000. Fund the account via check, ACH, wire transfer, ACAT, or online bill pay.

Venom Trading is a FINRA (Financial Industry Regulatory Authority, Inc.) and NFA (National Futures Association) member. Also, the brokerage is insured through Cobra Trading, Inc., a member of the SIPC (Securities Investor Protection Corporation). And Venom clears through Interactive Brokers.

Venom Trading Fees and Commissions (Pricing Review)

  1. Venom Trading charges low commissions at tiered rates. For example, the rate for equities is $0.004 per share with a $1 per order minimum.
  2. However, the rate is as low as $0.0005 per trade for large-volume traders. Monthly cumulative trade volume determines the rate charged.
  3. The rate for options is $0.75 per contract.
  4. For futures, the rate is $1.25 per contract per side.
  5. The Forex rate is 0.20 basis points x trade value with a $2 minimum.
  6. And for IRAs, there is a $7.50 quarterly fee.

Get updated pricing here.

See Venom Trading margin rates. Venom requires traders to be at least 21 to open a margin account.

If you have any questions, Venom Trading’s customer service quickly responds. Contact their representatives via phone, live chat, fax, or email.  

If you need to call outside their normal business hours, contact Interactive Brokers for all-hours assistance.

Venom Trading Stock Price and Symbol: Are They Publicly Traded?

Investors cannot purchase shares of Venom Trading because the company is privately held.

Final Thoughts

Venom by Cobra Trading, Inc., is a solid brokerage with a great array of products and services. The fact that Venom is using Interactive Brokers’ suite of platforms shows that they are more suited for experienced traders and investors.  

Interactive Brokers is quite rich in features which takes time to learn. I guess that explains why Venom is eager to help you place the first trades.

By the way, Cobra Trading also has trading platforms. The difference is that Cobra is more popular with intraday traders as they piggyback on the DAS trader platforms (not free) and only offer stock trading.

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